Purchasing Your First Car: Tips to Save Cash
When it comes to purchasing your very first vehicle, it would be understandable to throw caution to the wind and go with a model and make that you want.
After all, money just comes and goes, right? While it might be fine to splurge on a new car if it happens to be your first one, it would still be a good idea to exercise caution and to do prior research before making the decision. Here are just a few tips to save cash when purchasing your first car.
Extended warranties are not a good idea
Whether you are purchasing a car fresh from the factory or are in the market for a used car, an extended warranty is often just there to fatten the price tag. It becomes even more complicated and exaggerated when it is part of a pre-approved financing deal as well. More often than not, the manufacturer’s warranty is more than enough to get the job done. The worst part about getting an extended warranty is that it usually does not even cover the costs of repairing your car.
Purchasing a used car is not as bad as some might think
Experienced car owners will likely tell you that a used car can be just as useful as a brand new one. In plenty of ways, used cars are improved over their factory fresh versions, with some of the fundamental flaws ironed out. There is also the fact that purchasing a used car will reduce the price tag significantly. That said, keep an eye out for the extended warranty, as you will not need it! It would be a good idea to go for a used car with a manufacturer’s warranty – something that is commonplace if you choose a quality used car dealership. Being careful with your purchase also makes it easier to take advantage of services like loanonyourcar.com.
Add-ons are mostly unnecessary
It is no secret that purchasing a car – whether used or new – is no joke. It is something that you could be paying off for the next few years after all! When you consider how much you are already going to be paying, it seems a little extravagant to include accessories and add-ons as well. It is similar to purchasing an extended warranty for the car. If it happens to be part of a financing deal, the interest rates of the accessories will likely skyrocket, making things much more challenging to pay off. In many ways, accessories are only there to sweeten the deal and will not necessarily help your vehicle in any way.
Keep in mind that while it is fine to follow your heart when it comes to buying your first car, an impulse purchase rarely works in your favour. By following the steps above and being as careful as you can when it comes to buying your vehicle, you will be rewarded with a much better deal overall.